Form 4: Evertec Executive Paola Perez-Surillo Reports Acquisition of Restricted Stock Units

Paola Perez-Surillo, an Executive Vice President at Evertec, Inc., reported the acquisition of 14,392 restricted stock units on February 29, 2024.

Summary

• On February 29, 2024, Paola Perez-Surillo, an Executive Vice President at EVERTEC, Inc., acquired 14,392 shares of common stock.
• These shares were granted as restricted stock units.
• The price of the transaction was $36.13 per share.
• The restricted stock units vest in three equal installments on February 29, 2025, February 29, 2026 and February 29, 2027.
• Following the transaction, Perez-Surillo directly owns 46,531 shares of Evertec common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard executive compensation practices and aligns executive interests with shareholders.

Positives

• The acquisition of restricted stock units aligns the executive's interests with those of the shareholders.
• The vesting schedule encourages long-term commitment from the executive.

Industry Context

This is a standard practice for compensating executives in publicly traded companies, aligning their interests with those of shareholders through equity ownership.

Comparison to Industry Standards

• Equity compensation is a common practice among publicly traded companies to incentivize executives.
• The vesting schedule of three years is fairly standard in the industry.
• Comparable companies such as Global Payments Inc. and Fiserv Inc. also utilize restricted stock units as part of their executive compensation packages.

Stakeholder Impact

• The grant of restricted stock units aligns the executive's interests with those of the shareholders, potentially leading to better company performance.
• Employees may view this as a positive sign of the company's commitment to its leadership.

Key Dates